1987 Toyota Mr2 T-top ** One Owner ** Low Miles ** Beautiful on 2040-cars

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Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.

Toyota expands airbag recall to 2.27M vehicles worldwide

Was your Toyota inspected under the company's recall campaign for faulty airbag inflators last year? You might have another trip ahead to have it repaired again. The automotive giant says that it found "the involved serial numbers provided by the supplier were incomplete, and did not include all of the potentially involved inflators," according to its official announcement. That means more replacements are needed.
Toyota's April 2013 inflator recall covered the Corolla, Matrix and Tundra from the 2003 and 2004 model years, the Sequoia from 2002 to 2004 and the Lexus SC 430 from 2002 to 2004. At the time, the company said it would need to inspect about 510,000 vehicles in the US but only expected to replace around 170,000 inflators.
However, the latest announcement increases that figure to about 766,300 vehicles in the US. Toyota spokesperson Cindy Knight told Autoblog that the new amount is the combination of owners who need to have their vehicle looked at again and those who didn't come in for the initial recall. The company learned about the problem when Takata, the supplier, provided it with an improved list of the faulty part's serial numbers. According to The Detroit News, the latest recall affects about 2.27 million vehicles from them worldwide. Knight said owners would receive notification of the problem around the end of the month but repairs would come in phases because the automaker doesn't have all of the necessary parts at the moment.

This classic Firebird restomod swallowed a Prius

It takes an unusual eye to look at a 1967 Pontiac Firebird and see the Toyota Prius hidden inside. But that's just the kind of eye that a creative mechanic known online as "Bill the Engineer" has. Bill is updating his old Firebird into a true classic for the 21st century and has documenting the changes over at Priuschat and EcoModder. The TL,DR version of the story: he's replacing the worn-out powertrain with the gas-electric hybrid one from a Prius V, because it turns out the two vehicles have almost exactly the same wheelbase. Bill, who's from Columbus, Ohio and doesn't want his full name used, said in his posts on the conversion project that he's made many memories with this vehicle since buying it back in 1979. Since then, a few moves, a few decades, and some time in storage meant that the car would no longer function as he wanted it to. As he wrote, "when it comes to mice in the vehicles IT IS WAR." His solution is to make new memories and making a greener vehicle, and so we wanted to ask him how things have been going. Bill's been traveling a bit recently, but told AutoblogGreen that he's now figuring out the next steps for this amazing and complicated project. "I always plan things out before I do them," he said. That's the only way something like this can work. ABG: I think we have to start with what gave you the inspiration for this project. Was it simply that you had the two cars and wanted to see them merged into one cool mashup, or was it something else? "One day my wife wondered out loud if the car could be converted into a hybrid... The rest is history." Bill: I have been the owner of my 1967 Firebird convertible since 1979 when I bought it for $750.00. I drove it for years and made many memories. Afterward it was in storage for many years during which time mice at their way into the car and trashed the interior and wiring. I started working on a conventional restoration but always ran into major problems with hidden corrosion, electrical issues and an engine on its last legs. The car was never going to be as nice as I wanted going the conventional route. One day my wife wondered out loud if the car could be converted into a hybrid like our two daily driver Prii. That got me thinking about how it could be done. The rest is history... ABG: It looks like you started in late 2014. Have things gone well since then, or has it been one hassle after another? What has been the biggest setback, and what were the biggest victories?